Amazon founder Jeff Bezos urged Americans to prepare for the worst

Amazon founder Jeff Bezos urged Americans to prepare for the worst

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How informs Insider, US billionaire Amazon founder and CEO Jeff Bezos has warned US citizens that a recession is looming and has advised consumers and businesses to build up a cash cushion in case of a devastating downturn.

So, Bezos advised ordinary citizens to abandon large purchases now, for example, expensive household appliances or cars, and small businesses to invest in new equipment, and instead focus on creating cash reserves.

“The economy is not looking very good right now. Things are slowing down, layoffs have begun in many sectors of the economy … Everything suggests that if we are not in a recession right now, then we will probably be in it very soon,” the billionaire said.

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